Ethereum Stablecoins Add $378 Million in 24 Hours

Stablecoin supply surges

The Block’s chart, last updated on August 18, 2025, shows that the number of stablecoins on Ethereum has grown significantly since 2018. There was a spike in 2021, and the number has continued to grow since then. The supply increased by $378 million in 24 hours, bringing the total value to over $150 billion. This is partly due to the increasing use of stablecoins for transactions, accounts, and investments. The largest stablecoins, such as Tether (USDT) and Circle (USDC), contributed the most to this growth. Other stablecoins, such as DAI, PYUSD, and crvUSD, also contributed significantly.

The surge comes after a period of volatility in the global cryptocurrency market, with Ethereum hitting around $3,200 and the total value locked (TVL) in DeFi rising 5% over the past week to $120 billion. X posts and Cointelegraph reports also show that stablecoin trading volume on Ethereum has increased 12% in 24 hours to $45 billion, making Ethereum an even larger financial liquidity hub.

The driving force behind the increase

The resurgence of the DeFi ecosystem, with protocols like Aave, Curve, and MakerDAO, has driven demand for stablecoins to provide liquidity and participate in yield farming strategies. The recent increase in TVL suggests that investors are turning to stablecoins to capitalize on yield opportunities.

According to data from The Block, Ethereum derivatives trading volume, especially futures and options, increased by 15% over the past week. People often use stablecoins as collateral to get more USDT, USDC, and other stablecoins. This activity is called "minting".

The market is preparing for major events, such as the SEC’s decision on the Solana ETF on October 16, 2025, and the possibility of more crypto ETFs being approved. Traders can buy stablecoins to prepare for major price movements, especially since the Fear & Greed Index is at 68, which indicates a positive market sentiment.

New Stablecoin Integration: The launch of new stablecoins like PYUSD (from PayPal) and the development of crvUSD (in conjunction with Curve Finance) may have made things more stressful as issuers increase supply to meet demand.

Last week, Japan approved the JPYC stablecoin. This may have caused a chain reaction of investors around the world moving to fiat-pegged stablecoins, leading to more coins being minted on Ethereum.

Conclude

The $378 million increase in stablecoin supply on Ethereum over the past 24 hours, as of 03:26 PM on August 18, 2025, is a clear sign of recovery and growth in the DeFi ecosystem and crypto trading. Driven by liquidity needs, derivatives activity, and upcoming market events, this trend strengthens Ethereum’s position as the leading digital finance hub. However, it also raises challenges in terms of transparency, regulation, and centralization risks.

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